After two years, the Competition Commission inquiry into bank charges has decreed: bank fees are too high and above what they would be in a “normally competitive market”.
The implication is that the big banks, through design or not, have acted in an anti-competitive manner that punished the poorest in a country with unemployment (officially) at [...]

SA banks are the most profitable in the world, and have charged above the bar for fees. But that is set to change fast. The findings of the competition commission inquiry, to be released soon, will force banks to lower fees or face penalties
Speaking earlier this year after Absa announced R9,4bn profits for 2007, the [...]

Nedbank and First National Bank (FNB) recently raised their bank fees by more than 5%. Rob Rose asks FNB pricing executive James Fowle and Nedbank transactional products head Bryan McLachlan to justify these increases, especially when banks can’t seem to link their fees to their actual costs